Through the end 2020 property/casualty insurers have paid or reserved $7.7 billion on claims of all types in Louisiana through the end of 2020 from Hurricanes Laura, Delta and Zeta, the state insurance department reported. This data represents the first …
Seattle has joined other cities in approving extra pay for grocery store workers during the COVID-19 pandemic. The City Council on this week approved legislation requiring large groceries to pay an extra $4 an hour in hazard pay. The Seattle …
European regulators need to overhaul their capital rules to free up insurers to invest more in climate-friendly infrastructure projects, the chief executive of German insurer Allianz said on Wednesday. “Today, the regulatory framework we have in Europe has actually disincentivised …
Southern California Edison will pay $2.2 billion to settle insurance claims from a deadly, destructive wildfire sparked by its equipment in 2018, the utility announced this week. Edison, which acknowledged no wrongdoing, said the agreement covers all claims in pending …
AstraZeneca PLC was sued by a pension fund on behalf of investors who it says suffered losses because of flaws in the company’s testing of its coronavirus vaccine. For much of last year, the Cambridge, England-based pharmaceutical company was touting …
The parents of an autistic Maryland teenager who died in class after choking on a glove have filed a lawsuit against school officials, saying negligence led to their son’s death. Bryan and Tanya Levy, the parents of 17-year-old Bowen Levy, …
The Beacon Mutual Insurance Company has named Gregg Tumeinski as chief financial officer (CFO). Tumeinski will succeed Cynthia Lawlor, who is retiring after more than 28 years at the Rhode Island workers’ compensation insurer. As CFO at Beacon, Tumeinski will …
LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …
SterlingRisk Insurance, a Woodbury, New York-based independent insurance brokerage, has promoted Robert F. Larocca to chief strategic relations officer. Larocca, who began his career at SterlingRisk in 1999, will retain his title of executive vice president and continue to report …
Ant Group Co. could resume its plans for an initial public offering once problems are resolved, China’s central bank chief said, offering some relief to global investors seeking signs on what the future holds for the world’s largest fintech giant. …
